Operational Update

RNS Number : 5158V

Goldstone Resources Ltd

15 April 2021

 

15 April 2021

GOLDSTONE RESOURCES LIMITED

("GoldStone" or the "Company")

Operational Update

GoldStone Resources Limited (AIM: GRL), the West Africa gold exploration and development company quoted on AIM, announces that, further to its announcement of 12 February 2021, the Company confirms that for operational reasons it is focusing on ramping up mining and production, which has necessitated a temporary rescheduling to the initially planned gold pour, in order to optimize profitability.  The Company is working with the new mining contractor to complete a revised mine plan and production schedule, for the coming months and will be in a position to update the market shortly.

For further information, please contact :

GoldStone Resources Limited
Bill Trew / Emma Priestley	Tel: [phone]
Strand Hanson Limited
James Dance / James Bellman	Tel: [phone]
S. P. Angel Corporate Finance LLP
Ewan Leggat / Charlie Bouverat	Tel: [phone]

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018.

About GoldStone Resources Limited

GoldStone Resources Limited (AIM: GRL) is an AIM quoted exploration and development company with projects in Ghana that range from grassroots exploration to development.

The Company is focused on developing the Akrokeri-Homase project in south-western Ghana, which hosts a JORC Code compliant 602,000 oz gold resource at an average grade of 1.77 g/t.  The existing resource is confined to a 4km zone of the Homase Trend, including Homase North, Homase Pit and Homase South.

The project hosts two former mines, the Akrokeri Ashanti Mine Ltd, which produced 75,000 oz gold at 24 g/t recovered grade in the early 1900s, and the Homase Pit which AngloGold Ashanti developed in 2002/03 producing 52,000 oz gold at 2.5 g/t recovered.  It is the Company's intention to build a portfolio of high-quality gold projects in Ghana, with a particular focus on the highly prospective Ashanti Gold Belt.

 

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